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borishaifa [10]
2 years ago
5

Jada converted her personal residence to rental property in 2018. She purchased the property in 2014 for $110,000, of which $10,

000 was allocable to the land. Unfortunately, property values in her neighborhood have declined over the past few years. On the date of conversion, the fair market value of the property was $98,000; $10,000 was allocated to the land. Jada's basis for depreciation in the property is:
Personal property that has no intrinsic value is called __________.
Business
1 answer:
creativ13 [48]2 years ago
5 0

Answer:

a)Jada's basis for depreciation in the property is NIL.

b) Personal property that has no intrinsic value is called 'INTANGIBLE PROPERTY'.

Explanation:

Due to a decline in the property values over the past few years Jada has converted her personal residence to rental property and/or investment property which is a subject dealt within IAS 40 (Investment property).

According to IAS 40 an investment property is land or building held to earn rentals or for capital appreciation or both rather than use in the entity. IAS 40 requires to initially measure investment property at cost and subsequently may either measure at cost or fair value model. Fair value is normally established by prevailing market prices.

IAS 40 also mentions that if an asset is revalued to fair value the gain and loss should be recorded in statement of profit and loss and 'NO DEPRECIATION IS CHARGED ON THE ASSET AFTER THE FAIR VALUE MEASUREMENT'.

Therefore, following the instructions laid out by IAS 40 Jada's basis for depreciation in the property is NIL.

2) Personal property with no intrinsic value:

Personal property that has no intrinsic value is called 'INTANGIBLE PROPERTY'.

Lets first understand what intrinsic value is. Intrinsic value of an asset refers to the market led and/or market-driven price of that asset. This means those assets which don't have an active market for sale and purchase will have no intrinsic value. This is absolutely the case with intangible assets, because most intangible assets are unique and uncommon, such as, GOODWILL, PATENTS, COPYRIGHTS, therefore due to the uniqueness and exclusivity of such assets an active market place doesn't exist therefore it's hard to determine an intrinsic value for such kind of assets/ properties.

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An arrangement in which brokers pool their listings and all commissions are divided between the listing broker and the selling b
iragen [17]

Answer:

Multiple listing.

Explanation:

An arrangement in which brokers pool their listings and all commissions are divided between the listing broker and the selling broker is referred to as a multiple listing.

A multiple listing is a service used by a group of real estate brokers to formulate contractual offers of compensation and share informations about their various listings of property for sale, so as to enhance appraisals (commissions).

7 0
3 years ago
Roland Enterprises, an American company, has a manufacturing facility in France in order to serve customers throughout Europe. R
Aleks04 [339]

Answer:

regional manufacturing strategy

Explanation:

Regional manufacturing strategy -

It refers to the strategy  adopted by the firm or organisation that set up one of the company's unit in some other country , is referred to as regional manufacturing strategy .

In this strategy the people of the country are given importance and the tries to expand the business by looking after the likes and dislike of the people.

Similarly in the question ,

The American company set up their manufacturing unit in France ,

and

Hence tries to consider the likes and dislike of the people of France , there by using the regional manufacturing strategy .

8 0
3 years ago
A 13-year, 6 percent coupon bond pays interest semiannually. The bond has a face value of $1,000. What is the percentage change
statuscvo [17]

Answer: -10.14%

Explanation:

Original Price of bond:

Interest is paid semiannually so some variables need to be adjusted:

Period = 13 * 2= 26 semi annual periods

Coupon = 6% * 1,000 * 0.5 = $30 per period

Yield = 5.5% / 2 = 2.75%

Price = $1,046

Price after yield increases to 6.7%

Period = 13 * 2= 26 semi annual periods

Coupon = 6% * 1,000 * 0.5 = $30 per period

Yield = 6.7% / 2 = 3.35%

Price = $939.88

Percentage change = (939.88 - 1,046) / 1,046

= -10.14%

8 0
2 years ago
Ethan is a young salesperson who has conversations with his customers in an attempt to establish and maintain good relationships
Alecsey [184]
In this scenario, Ethan<span> is engaging in a sales dialogue. Sales dialogue is a series of talks between the buyers and sellers. This would usually take place over time in order to build relationships. The purpose of this dialogue is to determine whether the prospect customer should b</span>e targeted. This dialogue would also help to clarity the prospect's situation. It would also help the seller to discover the prospect's needs and requirements in transacting the business. <span> </span>
7 0
2 years ago
Coronado Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigne
dolphi86 [110]

Answer:1)  Balance in work in Process Inventory for   April, May, June

=   $11,200, $22,300,   $11,`100

2) Balance of finished goods for   April, May, June=  $1,500, $11,100, $23,000    

3)Gross profit for May , June, July     $375,$2,775  $5,750    

Explanation:

Given

Manufacturing Costs Assigned

Job Number April       May    June          Month Completed

10              $6,200   $4,900                         May

11                5,000       4,700     $3,100       June

12               1,500                                           April

13                                  5,600 4,600            June

14                                     7,000 4,100      Not complete

Solution

1) Balance in work in Process Inventory

Job      April                        May                                  June

10       $6,200

11          5,000        5,000+ 4700(9,700)

12          -                          -                                              -

13        --                           5,600                                   --

14            ---                     $7000                                   $7000 + 4,100 (11,100)

Total     $11,200             $22,300                                    $11,`100

2) Balance of finished goods

Job      April                        May                                  June

10      ---                       $6,200+ $4,900(11.100)  

11        ----                           ------                            5,000+4,700 + $3,100(12,800)      

12        $1,500                           -                                              -

13        --                           ----                                5,600+4,600 (10,200)  

14           Not complete                       Not complete

Total     $1,500                    $11,100                                $23,000

3) Gross profit for May , June, July.

May = Finished goods from previous month x mark up percent

$1,500 x 25%=$375

June  = Finished goods from previous month x mark up percent

$11,100 x 25%=$2,775

July= Finished goods from previous month x mark up percent

$23,000 x 25%=$5,750

5 0
3 years ago
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